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Is a $9,500 HVAC replacement in a rental considered a home improvement for the Safe Harbor Election for Small Taxpayers?
The cost is over $2,500, so it is definitely not eligible for the De Minimis Safe Harbor Election. Since it is not over $10,000, I just wanted to know if it qualifies as a home improvement for the Safe Harbor Election for Small Taxpayers so that I don’t have to capitalize and depreciate it over the years.
February 17, 2025
4:50 AM